Stifel Nicolaus reiterated its Buy rating on Visa V and raised the price target from $185.00 to $187.00.
Stifel Nicolaus noted, "In our view, Visa delivered slightly better-than-expected 1Q results once again thanks to lower rebates and expenses. Although these contra-revenues can typically be lumpy, top line trends proved resilient and we see potential upside in volume/revenues as the global economy stabilizes. As such, we are raising our estimates slightly and our target price increases to $187 and remains based on 20x calendar 2014E EPS. We reiterate our Buy rating based on our view that multiple expansion is still likely given falling litigation/regulation risks and powerful secular growth."
Visa closed at $160.82 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in